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Tissue Regenix completes initial phase of US facility expansion plan
StockMarketWire.com
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Tissue Regenix, the regenerative medical devices company, completed the initial phase of its expansion plan at its US-based San Antonio Texas facility by securing a ten-year lease on a 21,000 sq.ft facility adjacent to its existing one to address manufacturing constraints.
The initial part of phase one of the expansion project, which has now been completed, comprised of relocating facilities designated for distribution and frozen tissue storage, both of which had outgrown their existing space in the San Antonio facility.
The new freezer facility triples its current storage capacity allowing Tissue Regenix to hold more donor tissue onsite. The new distribution area enables the company to integrate distribution and finished goods into a more efficient operating space.
Work has also started on the development of two additional clean rooms at the existing San Antonio facility, which will bring the total number of clean rooms to seven, as well as the expansion space for supporting departments.
These developments, which will complete phase one of the expansion project, are scheduled for completion during H1 2021.
Tissue Regenix group chief executive Daniel Lee said: The addition of our new facility, adjacent to our original site, is welcome as it provides the Group the opportunity to grow with added flexibility.
'Our choice to do this in phases was advantageous by enabling us to be efficient with our capital and plan our expansion in line with the challenges our industry has faced with the COVID-19 pandemic. We are confident that demand exists to justify these capacity expansions and are looking forward to updating shareholders as the expansion project progresses. Story provided by StockMarketWire.com
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